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27 <br />work with local groups, and municipalities, to determine the areas that qualify <br />for funding by researching and evaluating alternative areas. <br />• As the population of Orange County continues to grow, the lack of affordable <br />land has become a major barrier to the development of Affordable Housing, <br />especially when taking into account that the Town of Chapel Hill and the <br />County will not develop infrastructure beyond the Urban Services Boundary. <br />By waiving building permit fees and providing zoning incentives, the members <br />of the Consortium plan to minimize the obstacles to affordable housing <br />development. <br />• There are a limited number of developers and builders who are capable of <br />building Affordable Housing. The profit potential for middle and upscale <br />housing draws most builders to that range of development, leaving few <br />contractors willing to work in the Affordable Housing arena. Also, the high <br />cost of land, costly permitting fees and the length of time to get housing <br />projects approved is prohibitive to the development of Affordable Housing. <br />This obstacle will be mitigated through the waived permit fees and zoning <br />incentives already discussed. <br />4. Identify the federal, state, and local resources expected to be made available to <br />address the needs identified in the plan. Federal resources should include <br />Section 8 funds made available to the jurisdiction, Low - Income Housing Tax <br />Credits, and competitive McKinney -Vento Homeless Assistance Act funds <br />expected to be available to address priority needs and specific objectives <br />identified in the strategic plan. <br />Orange County HOME Consortium Response: <br />By drawing upon financial resources available to the Consortium through HUD and by <br />instituting or strengthening partnerships with County departments, municipalities, <br />and nonprofit organizations, the Consortium will have sufficient resources available <br />to accomplish the Plan goals. <br />The following table provides a conservative estimate of the total amount of funding <br />that is expected to be available through HUD over the course of the five years <br />covered by this Plan. The estimates for CDBG and HOME are based on 80% of the <br />current FY 2010 funding level, multiplied by five (to arrive at a cumulative five -year <br />figure). CDBG and HOME Program Income estimates are based on 80% of the <br />projections listed in the Consortium's 2009 Annual Action Plan. The estimate for <br />HOME Matching Funds is 25% (the minimum amount of match required) of the five - <br />year HOME estimate. <br />Grant Program <br />Amount <br />CDBG (Town of Chapel Hill)* <br />$2,533,620 <br />CDBG Program Income ** <br />$29,352 <br />HOME (Orange County Consortium)* <br />$2,913,108 <br />HOME Program Income ** <br />$204,232 <br />HOME Matching Funds* <br />$728,277 <br />TOTAL <br />$6,408,589 <br />* 80% of FY2010 allocations for the next 5 years <br />* * 80% of average program income over the past 5 years <br />FY 2014 -2015 Action Plan 22 <br />